The procedure is carried out within the framework of the relevant agreement on automatic exchange of information.
The Ministry of Finance together with the State Tax Service have drafted amendments to the current legislation According to the draft, the required additional information on financial accounts will not be considered a commercial secret.
The document transposes into national legislation the amendments made to the OECD Common Reporting Standard.
In particular, starting from January 1, 2027, reporting units will submit an additional data package. It will include the name, location, jurisdiction of residence and tax identification number of the legal entity, as well as the name, address, jurisdiction of residence, tax identification number, date and place of birth of each reporting entity.
In parallel, the role on the basis of which the reporting entity exercises control over the legal entity is indicated. Information is also prepared on whether the financial account is a joint account, indicating the number of account holders. Also, the type of account and whether it is new or has been opened before, etc., shall be disclosed.
At the same time, the draft provides for a transitional period for the provision of new categories of information on accountable accounts.
